Ultimate Guide to Prepare 1Z0-1060-21 Certification Exam for Oracle Financials Cloud in 2022
Use Real 1Z0-1060-21 Dumps - Oracle Correct Answers updated on 2022
NEW QUESTION 23
Which two options allow validating input values on mapping sets?
- A. Segment values
- B. Value sets
- C. Lookup types
- D. Chart of accounts segment
Answer: B,C
NEW QUESTION 24
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. transfer Balances to FAH Reporting Cloud Service
- B. provide real-time visibility to financial reports inFAH Reporting Cloud Service
- C. upload transaction data into FAH Reporting Cloud Service
- D. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
Answer: D
NEW QUESTION 25
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?
- A. Event Class
- B. Journal Entry
- C. Journal Line Rule
- D. Journal Entry Rule Set
- E. Event Type
Answer: C
NEW QUESTION 26
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit andloss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How do you set up an account rule that is based on leased and owned trucks?
- A. Set up an account source in the source system file and derive the value.
- B. Set up a value set rule.
- C. Set up a lookup value.
- D. Set up a mapping set rule.
Answer: D
NEW QUESTION 27
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. DD-MON-YYYY
- B. YYYY-MM-DD
- C. The user can customize the date format
- D. MM-DD-YYYY
Answer: B
NEW QUESTION 28
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- B. Register it as a new source system.
- C. Add this as a new transaction type into existing registered subledger from the user interface.
- D. Change the transaction data file.
Answer: B,C
NEW QUESTION 29
After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?
- A. a Smart View Report
- B. a predefined Oracle Business Intelligence Publisher report
- C. an Oracle Financial Reporting Studio report
- D. an Oracle Transactional Business Intelligence analysis
Answer: D
NEW QUESTION 30
What attribute of a subledger journal entry is NOT transferred to GL?
- A. Supporting references
- B. Accounting lines
- C. Accounted amounts
- D. Accounting class
Answer: A
NEW QUESTION 31
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included inthe contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'NewTrucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?
- A. Create an adjustment journal entry.
- B. Set up multiperiod accounting journal lines.
- C. Set up a transaction line reversal.
- D. Set up automatic Journal line reversal.
Answer: B
NEW QUESTION 32
Given the business use case:
'New Trucks' runs a fleetof trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract andrecognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs tobe able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What would the typical line information be?
- A. Truck Type
- B. TransactionDate
- C. Company
- D. Customer Number
Answer: A
NEW QUESTION 33
What is the key attribute that is used to query journalentries of a registered source system?
- A. Ledger Name
- B. Transaction Date
- C. Journal Source
- D. Accounting Date
Answer: C
NEW QUESTION 34
You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?
- A. The rule is built using a value set source.
- B. The source does not return any value; therefore the rule is not displayed.
- C. The rule is built using a custom source.
- D. The rule is built using a line level source.
Answer: D
NEW QUESTION 35
Which two actions can you accomplish for a registered source system?
- A. Add new event classes through the user interface.
- B. Revise source Information through the user interface and add more sources.
- C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
- D. Modify the subledger application name as long as thereare no pending accounting entries.
Answer: B,C
NEW QUESTION 36
Given the subledger journal entry:
Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?
- A. It is notbalanced by balancing segment.
- B. It is not balanced by entered currency.
- C. It appears correct.
- D. It is not balanced by entered amounts.
Answer: A
NEW QUESTION 37
Which two can you use to view supporting reference balances?
- A. Use Business Intelligence Publisher to build a custom report.
- B. Use the Supporting Reference Balance Inquiry page.
- C. Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.
- D. Submit the standard Supporting Reference Balances Report.
Answer: B,C
NEW QUESTION 38
You need to build a complex account rule. Which four value typescanyou use in yourdefinition?
- A. Account Combination
- B. Constant
- C. Existing Account Rule
- D. Value Set
- E. Mapping Set
- F. Source
Answer: B,C,E,F
NEW QUESTION 39
Which three are mandatory transaction source information?
- A. Transaction Date
- B. Transaction Line
- C. Distribution Link
- D. Transaction Number
- E. Ledger Name
Answer: A,D,E
NEW QUESTION 40
Which is an alternate way to implement a mappingset rule?
- A. Define a flexfield rule with conditions.
- B. Define a lookup type rule with conditions.
- C. Define a chart of account rule with conditions.
- D. Define an account rule with conditions.
Answer: D
NEW QUESTION 41
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